According to the latest analysis, the global market for food additives is anticipated to achieve a size of USD 310.9 billion by 2024. Over the forecast period, there is a projected robust increase in global demand at a CAGR of 7.2%, culminating in a substantial market valuation of USD 551.4 billion by 2034.
The beverage sector continues to exhibit strong consumption of food additives, a trend expected to endure until 2034. This is driven by increasing utilization of both artificial and natural sweeteners across various industries. By 2024, this targeted segment is poised to hold a commanding market share of 34.0%.
Japan will remain the largest consumer in the food additives market. Food additives have become essential ingredients in various food & beverage products such as soft drinks, meat and seafood, bakery and confectionery, dairy products, desserts, snacks, and other products.
Apart from the expansion of the processed & convenience food industry, the growing demand for functional food additives also drives the food additives market, globally. In addition, continued research & development activities and associated new product launches by major manufacturers in the food additives market will be another driving factor for the food additives market.
As people have become more health conscious in the choice of food products, the demand for naturally-sourced, low-fat, low-sugar, and other customized natural food additives is foreseen to be an emerging trend in the market, creating new opportunities in the food additives market.
The rising awareness about healthy diet practices among consumers, coupled with the increasing consciousness about the associated benefits of consuming natural or organic food products will also favour the growth of the food additives market. The food additives market has also seen a few major mergers and acquisitions in recent years, impacting the food additives market in a positive way.
Competitive Landscape
The food additive market features a varied and dynamic competitive environment. Leading manufacturers in this sector are actively innovating to introduce new solutions such as natural sweeteners, food coloring agents, carrageenans, food thickening agents, and high fructose corn syrup. Their focus remains on innovation, quality, and aligning with customer preferences to maintain a competitive edge in the industry.
Several leading food additive companies are prioritizing obtaining product approvals from regulatory bodies. Additionally, they are leveraging strategies such as acquisitions, partnerships, collaborations, distribution agreements, and mergers to enhance their global footprint and market presence.
Key Players Listed in the Food Additives Global Market
- Chr. Hansen Holding A/S
- BASF SE
- Royal DSM N.V.
- Sensient Technologies Corporation
- Dow Chemical Company
- Nutra Food Ingredients, LLC
- Bell Flavors & Fragrances Incorporated
- Ajinomoto Food Ingredients
- Corbion Food Ingredients
- Food Ingredient Solutions, LLC
- Others (on additional request)
Recent Developments in the Food Additive Market-
- In January 2021, Ingredient Solutions, Inc., a distributor and blender of specialty hydrocolloids, was acquired by Tilley Co. This development enhanced the company’s portfolio of value-added specialties and ingredients.
- In June 2020, the liquid version of Linablue natural blue food coloring was launched by DIC Corporation’s subsidiary, DIC Lifetec Co., Ltd. The new Spirulina-extracted natural food coloring is now available in no-drip bottles.
- In 2021, B.T. Sweets introduced Cambya, a plant-based, one-to-one sugar replacer made from soluble fibers, monk fruit, and select botanicals. Unlike other sugar substitutes, the company claimed that Cambya does not require any masking agents because it does not leave a bitter aftertaste.
- In September 2022, Sun Chemical introduced SUNFOODS Natural Colorants for the food & beverage industry.
- In May 2023, the National Commission of the People’s Republic of China approved six new food additives, two new food raw materials, and six food-related products.
Food Additive Market by Category
By Product Type:
- Dairy Ingredients
- Sweeteners
- Fibers
- Fine Ingredients
By End-use Application:
- Dairy Industry
- Confectionery
- Bakery
- Snacks
- Sauces & Soups
- Pasta & Noodles
- Meat Products
- Baby Food
- Pharmaceuticals
- Beverages
- Dietary Supplement
- Personal Care
By Region:
- North America
- Europe
- Latin America
- South Asia
- East Asia
- Oceania
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.
Contact FMI:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
